October 11 (Reuters) – Copper prices in London fell on Tuesday as a stronger US dollar made greenback-priced metals more expensive for buyers holding other currencies.
Three-month copper on the London Metal Exchange CMCU3 edged down 0.2% to $7,565.50 a tonne at 02:31 GMT and aluminum CMAL3 fell 0.4% to $2,252 a tonne.
The dollar gained as strong U.S. labor data and the expectation of data due Thursday showing stubbornly high inflation cemented hopes that interest rates would stay high through 2023.
zinc LME CMZN3 fell 0.1% to $2,960.50 per tonne and lead CMPB3 fell 0.3% to $1,983.50 a tonne, while tin CMSN3 rose 0.8% to $20,250 per tonne.
The most traded copper contract in November on the Shanghai Futures Exchange SCFcv1 rose 2.1% to 62,610 yuan ($8,703.69) per ton, nickel SNIcv1 jumped 3.8% to 184,840 yuan per ton and tin SSNcv1 rose 2.2% to 178,470 yuan per ton.
The Yangshan Copper Bounty SMM-CUYP-CN hit its highest level in nearly a year at $117.50 a ton on tight supply, as inventory accumulation in ShFE warehouses during the Chinese National Day holiday week was lower than last year. CU-STX-GHS
Zinc ShFE SZNcv1 rose 2.3% to 24,725 yuan per ton, lead SPBcv1 was up 0.2% at 15,265 yuan per ton and aluminum SAFcv1 rose 0.2% to 18,560 yuan per ton.
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TOP/MTL Where MET/L DATA/EVENTS (GMT)
0600 United Kingdom Applicant Count Unem Chng Sept
0600 United Kingdom ILO Unemployment rate August
0600 UK HMRC payroll change in September
($1 = 7.1935 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)
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